Unit 1 Introduction to Creativity, Innovation and Entrepreneurship PDF

Unit 1 Introduction to Creativity, Innovation and Entrepreneurship Creativity Creativity is: The ability to develop new ideas or to bringing old ideas to new products, people and places or to discover new ways of looking at problems and opportunities....

Unit 1 Introduction to Creativity, Innovation and Entrepreneurship Creativity Creativity is: The ability to develop new ideas or to bringing old ideas to new products, people and places or to discover new ways of looking at problems and opportunities. What is innovation? Innovation is implementation of creativity to develop unique ideas. Innovation Creativity + Implementation = Innovation The idea is not enough. You have to implement it. Innovation Innovation is: an implementation of creativity to develop unique ideas. a systematic approach to find out what is exactly the problem we need to deal with. used to make Invention that enhance people’s lives and in the same time produces economic value in the marketplace as the commercialization of new technologies. Entrepreneurship Entrepreneurship is: The result of a process that apply both creativity and innovation. The identification and exploitation of previously unexploited opportunities by enterprising individuals (Entrepreneurs). The nexus of enterprising individuals and promising opportunities. “Innovation is not about ideas. it’s about making ideas happen.” -Scott Belsky, cofounder of Behance Constraints Constraints are inevitable and helpful. Without constraints, we would not innovate.  Beware of “Mythical Constraints” Mythical Constraints: is constraints that are not really there Sometimes people THINK there are constraints, when there are not. Just because something is hard, it does not mean it is impossible! “When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.” - Henry Ford, founder of Ford Motor Company Innovation is about … Finding what people NEED Not what they say they WANT Source: flickr.com Examples: Why do they call it WD-40? The name WD-40 was created because there were 39 failed versions of the product. Creating 40 different versions of something is an example of innovative work. Innovative work was appropriate when the company was designing the product. Now that the product is commercially successful, the stop squeak company has shifted to routine drive out moisture work. It is important for the clean and protect product to be the same every loosens rusted parts time someone uses it, so free sticky mechanism variance is discouraged. Examples: IDEO One of the most successful design and innovation firms, headquartered in Palo Alto, California. Source: IDEO.com  One Year at IDEO … 4,000 Ideas 12 Products generated sold 226 2 or 3 Prototypes Commercial developed successes Where Ideas Come From When do you have your best ideas? Where do you believe ideas come from. Do you have any particular time, place, environment. Where do you believe that you have the best ideas? Why do you believe that you have the best ideas under these circumstances? Possible factors: Alone or in groups? At home or out? When focused or when busy with other things? IDEO Shopping Cart Video www.youtube.com/watch?v=M66ZU2PCIcM  Routine Work vs. Innovative Work Routine Work: Work that is done without variance to reduce the possibility of failure. Innovative Work: Work that is done with increased variance, and failure is expected.  Logic of Innovative Work vs. Routine Work You have to know when to use both Innovative Work or Routine Work Innovation is not something someone should do all the time in every situation. Innovation requires a different logic than routine work does. WD-40 was created because there were 39 failed versions of the product. Creating 40 different versions of something is an example of innovative work. Innovative work was appropriate when the company was designing the product. Now that the product is commercially successful, the company has shifted to routine work.